# Vanguard Short-Term Tax-Exempt Bond ETF (VTES): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vtes for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Vanguard · Asset class: Municipal Bond - Strategy: Passive Index · Inception: 2023-03-07 This fund's primary objective is to replicate the performance of a designated market index. This benchmark specifically measures the investment-grade segment of the U.S. municipal bond market, covering maturities from one month up to seven years. The fund pursues an indexing strategy, meticulously tracking the S&P 0-7 Year National AMT-Free Municipal Bond Index. It achieves this by employing a sampling methodology to closely mirror the index's core characteristics. All investment selections are made through this sampling process, ensuring that a minimum of 80% of the fund's total assets are... ## Key Facts | Metric | Value | |---|---| | Price | $100.46 | | Expense Ratio | 0.05% | | Assets Under Management | $3.60B | | NAV | $100.16 | | Holdings Count | 2667 | | Distribution Yield (TTM) | 2.68% | | Annual Distribution (TTM) | $2.69 /share | | Distribution Frequency | Monthly | | 52-Week Range | $98.02 – $102.71 | | Beta | 0.37 | ## Latest Distribution - Amount: $0.1941 /share - Ex-date: 2026-10-01 - Pay date: 2026-10-05 ## Frequently Asked Questions ### What does VTES invest in? This fund's primary objective is to replicate the performance of a designated market index. This benchmark specifically measures the investment-grade segment of the U.S. municipal bond market, covering maturities from one month up to seven years. The fund pursues an indexing strategy, meticulously tracking the S&P 0-7 Year National AMT-Free Municipal Bond Index. It achieves this by employing a sampling methodology to closely mirror the index's core characteristics. All investment selections are made through this sampling process, ensuring that a minimum of 80% of the fund's total assets are invested in securities present within the underlying index. Typically, at least four-fifths (80%) of the fund's holdings aim to generate income exempt from both federal income taxes and the federal alternative minimum tax. Key risks include the impact of shifting interest rates. When rates climb, bond prices may fall, potentially decreasing the fund's value. Conversely, declining rates could eventually lead to reduced income for the fund. This offering may appeal to investors seeking federal tax-exempt income who are comfortable with moderate variations in both principal value and income generation. Regarding 75% of its total assets, the fund operates under specific diversification constraints: it is prohibited from acquiring more than 10% of the voting securities of any single issuer, and its exposure to any one issuer's securities generally cannot surpass 5% of its total assets. An exception to these limits is made when necessary to approximate the target index's composition. These particular restrictions do not apply to obligations issued by the U.S. government or its agencies and instrumentalities. ### What is the expense ratio of VTES? Vanguard Short-Term Tax-Exempt Bond ETF (VTES) charges an expense ratio of 0.05%. This is the annual fee deducted from fund assets to cover management and operations. ### What is VTES's dividend yield? VTES's trailing-twelve-month yield is 2.68%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of VTES? Effective duration measures VTES's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VTES's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of VTES? VTES's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of VTES? Yield to maturity (YTM) is the total return you'd earn from VTES if every bond in the portfolio is held to maturity at the current price. VTES's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does VTES pay a dividend? Yes, Vanguard Short-Term Tax-Exempt Bond ETF (VTES) distributes dividends to shareholders. The trailing-twelve-month yield is 2.68%. Full dividend history is on this page. ### How often does VTES pay dividends? Vanguard Short-Term Tax-Exempt Bond ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is VTES's next ex-dividend date? The most recently announced ex-dividend date for VTES was 2026-10-01. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will VTES's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.05% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does VTES charge its expense ratio? The expense ratio is deducted in tiny daily slices from VTES's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does VTES cost more than a fund like VOO? VTES is a passive index fund (current expense ratio 0.05%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to VTES? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as VTES (0.05%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/vtes - Distribution history: https://www.dividenddata.com/funds/vtes/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vtes/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vtes/expenses - Peer comparison: https://www.dividenddata.com/funds/vtes/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.